Route Canal Shipping Company has the following schedule for aging of accounts receivable: Age of Receivables April 30, 20X1 (2) (3) Age of Account 0-30 31-60 61-90 91-120 Month of Sales April March (1) February January Total receivables Month of Sales April March a. Calculate the percentage of amount due for each month. Percent of Amount Due % % % % 100 % February January Amounts $ 156,240 78,120 117,180 39,060 $ 390,600 Total receivables (4) Percent of Amount Due 100%

Route Canal Shipping Company has the following schedule for aging of accounts receivable: a. Calculate the percentage of amount due for each month. b. If the firm had $1,512,000 in credit sales over the four-month period, compute the average collection period. Average daily credit sales should be based on a 120-day period. c. If the firm likes to see its bills collected in 36 days, should it be satisfled with the average collection period? Yes No d. Disregarding your answer to part c and considering the aging schedule for accounts receivable, should the company be satisfied? Yes No Route Canal Shipping Company has the following schedule for aging of accounts receivable: a. Calculate the percentage of amount due for each month. b. If the firm had $1,512,000 in credit sales over the four-month period, compute the average collection period. Average daily credit sales should be based on a 120-day period. c. If the firm likes to see its bills collected in 36 days, should it be satisfled with the average collection period? Yes No d. Disregarding your answer to part c and considering the aging schedule for accounts receivable, should the company be satisfied? Yes No